NCC Publishes Costs of Doing Business in Ireland 2017 Report

Date:
01 June 2017

Cost Competitiveness crucial to sustained growth

The Council has today (June 1) published its latest report. The Costs of Doing Business in Ireland 2017 benchmarks the main costs facing enterprises across 70+ metrics. It concentrates largely on the primary costs that impact on enterprise. These comprise Labour costs (which include wages and salaries, employer paid-statutory plans and other employee benefits); Property Costs; Transportation Costs; Utility costs; and the costs of capital and taxes. The Report also examines price levels and changes in those levels.

Launching the report, Chairman of the National Competitiveness Council Professor Peter Clinch noted " While Ireland's recent improvement in standing in global competitiveness rankings is very welcome, the appreciation of the euro vis a vis sterling and increases in oil prices in the last year highlight how vulnerable Irish firms are to cost shocks. To remain competitive there is a role for both the public and private sectors alike to manage proactively the controllable portion of their respective cost bases, drive productivity and continue to take action to address costs. Such actions will ensure that improvements in relative cost competitiveness are more sustainable, leaving Ireland better positioned to cope with external shocks."